2016-11-21 Mon

Indian expats from UAE have appealed to the government to extend the dates for getting their old currency notes of denomination Rupees 500 and rupees 1000 exchanged or deposited. The last date for doing this is 30th December. There has been a provision for doing the same at RBI offices by 31st March 2017 as well.

They are worried that coming back to India at such a short notice is very difficult. Apart from that, the airfares are very high, especially when you have to book tickets immediately. Electricians and other such employees working in Dubai and other such countries would have to spend a lot just for getting their cash exchanged to get them deposited.

Another problem is that exchange counters at airports are running out. Some are also getting their money exchanged with the help of friends by providing a letter of authorization and a copy of their ID.

Expats are waiting to see if the government will allow them to get their cash exchanged from where they are located currently. Indians can carry up to rupees 25,000 while entering or leaving the country, but money exchanges in the UAE have stopped accepting the old notes.

The UAE Exchange officials have asked the expats to remain calm as sufficient measures are being taken to take care of their worries. The ministry of external affairs would also be looking into the issue very soon.